Ensco PLC (NYSE:ESV) dropped 3% during mid-day trading on Tuesday . The stock traded as low as $8.92 and last traded at $8.96, with a volume of 3,039,014 shares changing hands. The stock had previously closed at $9.24.

Several research firms have weighed in on ESV. Bank of America Corp. began coverage on shares of Ensco PLC in a report on Sunday, June 19th. They issued an “underperform” rating and a $10.53 price target on the stock. DNB Markets cut shares of Ensco PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Susquehanna raised shares of Ensco PLC from a “negative” rating to a “neutral” rating in a report on Tuesday, June 28th. Zacks Investment Research cut shares of Ensco PLC from a “hold” rating to a “strong sell” rating in a report on Monday, July 18th. Finally, Jefferies Group reissued a “hold” rating on shares of Ensco PLC in a report on Friday, August 5th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.10.

The stock’s market cap is $2.65 billion. The stock’s 50-day moving average is $9.55 and its 200-day moving average is $9.98.

Ensco PLC (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. The company earned $910 million during the quarter, compared to the consensus estimate of $746.55 million. The business’s revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Equities research analysts expect that Ensco PLC will post $1.56 EPS for the current year.

Several hedge funds recently made changes to their positions in the company. Nationwide Fund Advisors raised its stake in shares of Ensco PLC by 2.3% in the fourth quarter. Nationwide Fund Advisors now owns 72,527 shares of the offshore drilling services provider’s stock worth $1,116,000 after buying an additional 1,653 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Ensco PLC by 13.3% in the fourth quarter. GSA Capital Partners LLP now owns 72,548 shares of the offshore drilling services provider’s stock worth $1,117,000 after buying an additional 8,526 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Ensco PLC by 9.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 85,200 shares of the offshore drilling services provider’s stock worth $1,415,000 after buying an additional 7,218 shares in the last quarter. Systematic Financial Management LP bought a new stake in shares of Ensco PLC during the fourth quarter worth approximately $1,724,000. Finally, Andra AP fonden raised its stake in shares of Ensco PLC by 69.4% in the fourth quarter. Andra AP fonden now owns 152,300 shares of the offshore drilling services provider’s stock worth $2,344,000 after buying an additional 62,400 shares in the last quarter.

Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.

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